The Establishment of a Subsidiary in the U.S

Jan. 11, 2011

TOKYO, Japan - January 11, 2011 - GREE, Inc. (Headquarter: Minato-ku, Tokyo; president and Chief Executive Officer: Yoshikazu Tanaka; Listed in the First Section of Tokyo Stock Exchange; Code: 3632; Hereinafter called "GREE") announced that a subsidiary will be established in the United States of America.

1. Purpose of the establishment
With the purpose of accelerating overseas expansion and conducting overseas business on a full-scale basis, GREE will establish a subsidiary in California, the U.S. where many IT companies concentrate to cultivate the global market.

2. Overview of the new company
Corporate name: GREE International, Inc. (provisional)

*The corporate name may be changed in the process of registration.

Representative: Naoki Aoyagi
Location: California, the U.S.
Main business: Internet business in the U.S.
Number of employees: Start with about 10 employees
Capital: 1 million US dollars
Shareholder: GREE, Inc. (100%)

The effects of this announcement on our performance are under investigation. If the effects are clarified, we will inform immediately.

GREE and the GREE logo are trademarks or registered trademarks of GREE, Inc. in Japan and/or other countries. All other trademarks are the property of their respective owners.